Welcome to the fifteenth edition of the Locker Room Labs Sports Technology Spotlight. In this series, we sit down with industry partners and experts to discuss the evolving world of sports tech including the incredible innovations being developed in the space. The next professional we interviewed is Jeremy Jones, Chief Revenue Officer at nVenue. Jeremy discusses his perspective on topics that are trending in sports betting, technology, and more.
How does your background in sports and entertainment translate to the world of sports betting?
Understanding fan engagement is key. In sports and entertainment, success depends on engaging fans and creating memorable experiences. This is crucial in sports betting, where the goal—especially with our partnerships with leagues—is to enhance fan engagement through interactive and immersive betting experiences.
Sales and relationship building are also vital. Selling high-value sponsorships and tickets required building relationships and understanding client needs. In sports betting, especially in a B2B context, these skills foster long-term partnerships.
Adaptability and understanding market dynamics are essential. The sports and entertainment industry is fast-paced and ever-changing, requiring adaptability. This experience is invaluable in the rapidly evolving sports betting industry, where staying ahead of trends and tech advancements is essential.
Where does nVenue fit in the competitive landscape of betting data providers? Why micro-betting? Why nVenue?
nVenue occupies a unique position in the competitive landscape of betting data providers. We specialize in micro-betting, combined with advanced AI and machine learning capabilities. Under the leadership of our CEO Kelly Pracht, who has extensive experience with ML/AI from her time at HP, we stand out as a true tech-first company.
Micro-betting is revolutionizing the sports betting industry by enhancing fan engagement. It creates increased betting opportunities that attract a wider, more casual audience, appealing especially to newer fans. This keeps them engaged throughout the entire game.
Micro-betting opens up new possibilities for technology innovation in sports betting, allowing for continuous development and improvement. It also provides market differentiation, enabling us to attract and retain more customers with fan-favorite and first-of-its-kind micro bets that we are developing with leagues.
We stand out because we are not just following trends; we are setting them. With first-of-its-kind league partnerships, we provide unparalleled value in the micro-betting space. We push boundaries, deliver cutting-edge solutions, and meet the needs of today’s bettors.
What type of technology does this category need to be successful? How are you responding to the buzz around Artificial Intelligence and Machine Learning?
To be successful in this category, the technology needs to be powerful enough to handle massive data ingestion and analysis. At nVenue, we ingest millions of data points per game across every sport.
The power of nVenue is fundamentally built on advanced AI and machine learning. We aren’t just reacting to the buzz around AI/ML; it’s integral to who we are. Instead of relying on ChatGPT or other tools for predictions, we use thoughtfully designed, proprietary models to look to the future and deliver precise, reliable betting data.
You’ve signed several massive league partnership deals. How did those come about and why do you believe nVenue was selected for each?
We are honored to work with the leagues. Our NBA alignment began with our work with NBA Launchpad. We were selected from hundreds of other sports tech brands as the single sports betting company. Our traction and success with Launchpad led to us going live on League Pass during the finals last season, with the NBA ultimately joining as an equity partner. We are also excited to have Scott Kauffman-Ross as a board member.
Our NASCAR partnership is one of our favorite collaborations to date. The league recognized the growth opportunities in NASCAR sports betting and the power of the casual fan. They selected nVenue to design and deliver NASCAR’s first-ever in-race micro-bets. We launched our first product at the Daytona 500 this year and recently announced Amelco as the first platform provider to take these bets. Our tech expertise for a rapid-paced sport like NASCAR, paired with our knowledge of sports and the evolving interests of sports betting fans, made us the perfect team for this innovative project.
About Jermey Jones
Jeremy is the Chief Revenue Officer at nVenue. nVenue is an AI-powered micro-betting engine built for live sports. nVenue’s unmatched technology leverages the power of machine learning and artificial intelligence to quickly and accurately generate probabilities and odds for live, in-play betting opportunities. Their predictive data feed allows sports betting operators to introduce thousands of new micro-betting markets for basketball (NBA), baseball (MLB), motorsports (NASCAR) and football (NFL) while also offering rich, entertaining content for fans to consume via broadcast or in-app experiences.
About Locker Room Labs
We are a US-based, and software engineer-owned, development team specializing in sports, betting, fantasy, and iGaming. From UX Design and MVP Development to Custom App Development and Fractional CTO services, we are tailored to bring sports software to life. A testament to our innovation is “The Playbook,” a proprietary sports platform-as-a-service that accelerates development time and saves clients on build costs. To reach us, you can visit our website here.
